India Review remarks, “India is emerging as a reliable alternate destination for manufacturers and supply chain diversification due to its large labour and consumer base, low operating costs, and linkages to important international markets.” Confirming this statement are the countries across the world who recognise the exemplary role that India is playing in increasing flexibility in costs and lead times in supply chain management. Estimated at USD 3,421.17 million in 2023, the India Supply Chain Management (SCM) market is driven by several key factors such as its growing economy, strategic location, and welcoming business environment. The market is projected to expand at a compound annual growth rate (CAGR) of 11.1%, reaching USD 6,433.24 million by 2030.
Key industries driving India’s supply chain growth include information technology, pharmaceuticals, textiles, and automotive. These sectors contribute significantly to the economy and create a strong demand for efficient supply chain solutions. When it comes down to considering just the IT-BPM sector, it becomes fascinating to realise that it alone accounted for 7.5 per cent of the GDP in the fiscal year 2023. Many crucial forces drive India’s socio-economic growth which holds promise as a key driver of the nation’s modernisation.